Top SaaS Companies in Toronto

List of the largest SaaS companies in Toronto, Canada (Click to apply)

These are the top SaaS companies in Toronto, Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Toronto by featuring these 282 companies with combined revenues of $5.7B.

Together, Toronto SaaS companies employ over 20K employees, have raised $293.2M capital, and serve over 419M customers around the world.

$0 - $1M ARR
  1. MedStack $1.0M
  2. PostBeyond $990.0K
  3. Waitry $987.1K
  4. GrubX $980.0K
$1M - $5M ARR
  1. Taplytics $4.9M
  2. Hubba $4.6M
$10M+ ARR
  1. Njoyn $250.0M
  2. LoyaltyOne $201.6M
  3. 1Password $120.0M
  1. 01
    Constellation Software

    Constellation Software

    Enterprise Software

    Constellation Software is a provider of software and services. It serves both in the public and private sectors. It was founded in 1995 and is headquartered in Toronto, Canada. The company acquires, manages and builds industry specific software businesses

    $4B

    $49M

    125K

    243

    1997

    Toronto

  2. 02
    Njoyn

    Njoyn

    Talent Management Software

    An applicant tracking system hosted, developed and supported in Canada. Njoyn is a leading ATS that automates and simplifies your recruitment processes.

    $250M

    1K

    2001

    Toronto

  3. 03
    LoyaltyOne

    LoyaltyOne

    Advertising Software

    LoyaltyOne, Inc. is a global provider of loyalty marketing and programs to enterprises in the retail, financial services

    $202M

    1K

    3K

    1991

    Toronto

  4. 04
    1Password

    1Password

    Security Software

    Developer of password management software designed to save and remember passwords. The company's platform allows users to maintain strong credentials, manage access to services and report on usage and also provides private, secure and user-friendly passwor

    $120M

    $300M

    90K

    382

    2005

    Toronto

  5. 05
    Venasolutions

    Venasolutions

    Erp Software

    With powerful and intuitive FP&A software, Vena redefines how companies manage their budgeting, planning and revenue forecasting.

    $60M

    $476M

    900

    450

    2011

    Toronto

  6. 06
    Freshbooks

    Freshbooks

    Erp Software

    The best cloud based small business accounting software. Send invoices, track time, manage receipts, expenses, and accept credit cards. Free 30-day trial.

    $55M

    $77M

    305K

    429

    2004

    Toronto

  7. 07
    Sigma Systems

    Sigma Systems

    Telecommunications

    Developer of idea-to-install products for communication, media and high tech companies. The company provides a software product portfolio which is available through the cloud or on-premise. The company's product portfolio covers cloud brokerage, product &

    $55M

    190M

    282

    1996

    Toronto

  8. 08
    Maropost

    Maropost

    CRM and Related Software

    Maropost makes powerful, easy-to-use, enterprise-grade software solutions to help you scale your sales and marketing while staying lean.

    $45M

    380

    172

    2011

    Toronto

  9. 09
    Intelex-Technologies

    Intelex-Technologies

    Healthcare Software

    Intelex cloud-based software manages environment, health & safety, quality and suppliers for regulatory compliance, and streamline ISO initiatives

    $41M

    $132M

    4M

    452

    1992

    Toronto

  10. 10
    Q4

    Q4

    CRM and Related Software

    Q4 is a SaaS platform that provides advanced communication and intelligence solutions to investor relations officers and the C-suite of public companies. With the goal of improving the effectiveness of investor relations through innovative, forward-thinkin

    $39M

    $65M

    225M

    435

    2006

    Toronto

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What are the fastest growing companies doing?

83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

Which CEO’s are the most efficient capital allocators?

We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.